Czech developer plans to open hotel in Warsaw

It is very likely that the company will adapt an existing building in the town center rather than construct a new one. "We intend to open similar outlets in Kraków, Poznań and Gdańsk, but we might decide on other locations as well," said Veroslav Machuta, representing OPG in Poland. He also added that market conditions would affect the final decision concerning future investments. MaMaison Residences will be constructed by a joint venture of Orco and EBRD, which holds 33% in the Czech company, and the total investment outlay will amount to EUR 140 million. (Puls Biznesu, pp. 1, 8) M.M.